State of New Jersey Common Pension Fund D Has $2.99 Million Stock Position in SPX Technologies, Inc. (NYSE:SPXC)

State of New Jersey Common Pension Fund D lowered its stake in SPX Technologies, Inc. (NYSE:SPXC) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,633 shares of the company’s stock after selling 1,742 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of SPX Technologies worth $2,993,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Navellier & Associates Inc. grew its position in shares of SPX Technologies by 1.4% during the 3rd quarter. Navellier & Associates Inc. now owns 8,814 shares of the company’s stock worth $717,000 after purchasing an additional 125 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of SPX Technologies by 4.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,182 shares of the company’s stock worth $321,000 after purchasing an additional 132 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of SPX Technologies by 4.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,176 shares of the company’s stock worth $340,000 after purchasing an additional 170 shares in the last quarter. Arizona State Retirement System grew its position in shares of SPX Technologies by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 12,966 shares of the company’s stock worth $1,055,000 after purchasing an additional 175 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of SPX Technologies by 5.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,458 shares of the company’s stock worth $281,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Insider Buying and Selling

In related news, CEO Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock in a transaction on Monday, March 4th. The shares were sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the completion of the transaction, the chief executive officer now owns 667,045 shares of the company’s stock, valued at $76,936,970.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider John William Swann III sold 32,325 shares of SPX Technologies stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $117.61, for a total transaction of $3,801,743.25. Following the completion of the transaction, the insider now owns 82,884 shares of the company’s stock, valued at $9,747,987.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eugene Joseph Lowe III sold 35,000 shares of SPX Technologies stock in a transaction on Monday, March 4th. The stock was sold at an average price of $115.34, for a total transaction of $4,036,900.00. Following the transaction, the chief executive officer now directly owns 667,045 shares of the company’s stock, valued at approximately $76,936,970.30. The disclosure for this sale can be found here. Insiders sold 94,373 shares of company stock valued at $10,962,146 over the last quarter. Insiders own 3.53% of the company’s stock.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $121.52 on Friday. The firm has a market cap of $5.62 billion, a PE ratio of 63.29, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. The firm’s fifty day moving average is $117.58 and its 200-day moving average is $101.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.77. SPX Technologies, Inc. has a 52 week low of $61.09 and a 52 week high of $124.81.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. The company had revenue of $469.40 million for the quarter, compared to analyst estimates of $481.98 million. SPX Technologies had a net margin of 5.16% and a return on equity of 17.30%. SPX Technologies’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. Sell-side analysts predict that SPX Technologies, Inc. will post 5.05 earnings per share for the current year.

Wall Street Analyst Weigh In

SPXC has been the topic of several analyst reports. StockNews.com lowered shares of SPX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Oppenheimer reiterated an “outperform” rating and set a $134.00 price target (up previously from $124.00) on shares of SPX Technologies in a research report on Thursday, March 28th. Finally, UBS Group raised their target price on shares of SPX Technologies from $90.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.